The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-09-23
MONEY WILL BE EASIER.
S3,4e4,7oo PAID OUT FOR BONDS
YESTERDAY.

The Treasury Officials Well Pleased
With the Results from their Circular
Wall Street Already Feels the
Good Effect--A Big Rush to Buy at
the Opening.
NEW YORK, Sept 22.-The government
circular offering to buy 4 per cent. bonds at
fixed price and to pay interest without re-
bate caused sharp turn in the sentiment of
the operators in the stock market, and the
opening this morning was excited at ad-
vances ranging from X to ~ per cent.
Buyers were so eager that they actually
climbed over each other for the first few
minutes after the opening, and the crowds
dealing in Western Union, Reading and
New England numbered over 1000 brokers
each. During the first few minutes a fur
ther gain of about Is was made, but re-
action then set in and the market seemed to
be resuming its normal tone. London was
q heavy buyer of stocks the heaviest or
ders for that account being in Louisville
and Nashville, Reading, st. Paul and Union
Pacific.
Over 81, 900 shares of stock were sold dur
ing the first fifteen minutes on the Stock
Exchange this morning.
GOOD EFFECT ALL ROUND.
The publication of Acting Secretary
Thompson's circular In the daily papers had
good effect among men of money. In
Wall street an air of confidence hung around
the busy market Later on the expectation
of cotton and cereals will turn the flow of
money toward this country, however. It
is rather early to venture an opinion on the
effect of the circular.
n,,N Of tha ..-%.n -
Fiske & Sons, said: 1--WE just come in from
the room, and must say that the circular
has had good effect already there. Four
teen millions of dollars is good deal of
money, if we get it here by Oct. 8. A good
deal depends upon how much of the bonds
spoken of the government will get at their
figures. Some of them are quoted higher i'll
the room this morning than the Secre-
tary's offer. Four per cents, for which the
government offers f25 are selling at 1850
1855 at this very hour The market is bet
ter"
RUSHING IN THE BONDS
WAsHINGToN,S Sept. 22.-The result of the
circular issuedtoday by the Treasury offering
to buy Al and per cent. bonds at los 4-10
and 1875 respectively, was awaited with ap-
prehension by the department Through
out the day proposals to sell AN, in at in
tervals, but they were for small
disappointment that the announcement
was made after O'Clock that the aggregate
of the offers at the prices fixed by the de-
partment was but $614, 700 That the
proposition to purchase per cent bonds at
125 was not generally regarded as an in
ducement was inferred from the small offer
ing of s4S0,000 of these bonds.
ALL CAME IN BUNCE.
But it appears that the temper of the
sellers had been miscalculated for later in
the day, and after the first announcement
additional tenders were received to the
amount of 81, ,S20, 900 of which S500,000 were
four and a half, and 81, ,000 four This
raised the total Of the days purchases to
81, ,494, 700, including S694, 100 four and a
half, and 81, 800, 600 four Taking into con-
sideration the fact that the circular was
issued to-day and that the public had not
fully had time to become acquainted with
its terms, the financial officers of the
Treasury are pleased with the result. 1t
was deemed best not TO make public to-day
the names of the persons and firms who sold
bonds to the government, and it is probable
that this information will not be furnished
hereafter. During the day many
kilograms were received at the de-
partment asking whether bonds can
be offered to the Assistant Treasurer at
New York, and be paid for as provided in
JDe clIcular bnlS aIUeinoon AcDlng pocE
ry Thompson authorized the statement
that offers must be made to the Treasury
Department at Washington, and that the
Assistant Treasurer will pay for the bonds
purchased
THE sTRINGENCY ARTIFICIAL.
The President is satisfied with the offect
produced by his action of last night in order
ing that $14, 900, 600 of fours and four and a
halfs should be bought at fixed prices when
ever offered. The offerings to-day showed
even better than those of yesterday that the
stringency is largely artificial, and specula-
tive, and at the same time showed that the
administration had provided the best means
possible for modifying it. No further step
Is now contemplated.